Why Are Palantir Shares Trading Higher On Wednesday?

Benzinga_recent_news02:26

Palantir Technologies Inc. (NASDAQ:PLTR) shares are surging on Wednesday after GE Aerospace (NYSE:GE) announced a partnership with the AI data analytics company to power a new U.S. military contract ...

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(NASDAQ:PLTR) shares are surging on Wednesday after GE Aerospace (NYSE:GE) announced a partnership with the AI data analytics company to power a new U.S. military contract awarded by the Defense Logistics Agency.\nThe contract, announced on Tuesday, tasks GE Aerospace with increasing readiness for the J85 engine — which powers the Air Force's primary training aircraft, the T-38. Palantir is named as a key partner in the deal.\nUnder the agreement, GE Aerospace and Palantir will apply AI-driven digital logistics to improve fleet management and supply chain performance.\nThe platform uses artificial intelligence and advanced data analytics to consolidate disparate data across the U.S. Air Force, Defense Logistics Agency, and GE Aerospace — predicting when parts will be needed and identifying emerging supply chain constraints.\nThe initial contract spans seven months with a four-year, five-month option period immediately following. This marks GE Aerospace's first TrueChoice Defense digitally enabled contract for the J85 engine.\nPalantir is trading 3.5% below its 20-day SMA and 21.1% below its 100-day SMA, keeping the intermediate trend pointed down even as the stock tries to stabilize.\nShares are up 54.33% over the past 12 months, but the current price sits closer to the 52-week low than the 52-week high, highlighting how much ground it has been trying to reclaim since the peak.\nBelow is the Benzinga Edge scorecard for Palantir Technologies, highlighting its strengths and weaknesses compared to the broader market:\nPLTR Price Action: Palantir Technologies shares were up 4.47% at $134.59 at the time of publication on Wednesday, according to Benzinga Pro data.\nImage via Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2614030472","isCrawlerRequest":true}